IPL merchandising a huge opportunity to monetise brand, says Duff & Phelps
Unlike the global sports events, the Indian Premier League (IPL) hasn't been able to monetise at a large scale through merchandising despite its huge popularity, but this could change in the next few years, it said. "Merchandising, which has not picked up as anticipated, is a huge opportunity for IPL and the franchisees to monetise the brand, and we hope to see IPL replicating the global sporting events' success in monetising their brands through merchandising," Duff & Phelps India Managing Director Santosh N said
Globally, merchandising is a USD 20 billion plus industry, but in India and more specifically in the IPL, it is still at a nascent stage due to competition from the unorganised and counterfeit market in India. Image source: BCCI